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ROBERTS PHARMACEUTICAL ACQUIRES FIVE BRISTOL-MYERS SQUIBB OTC PRODUCTS

This article was originally published in The Tan Sheet

Executive Summary

ROBERTS PHARMACEUTICAL ACQUIRES FIVE BRISTOL-MYERS SQUIBB OTC PRODUCTS for an undisclosed cash sum in a deal expected to be completed "prior to the end of September," the Eaton, N.J. firm announced Aug. 31. The letter-of-intent agreement covers the stool softeners Colace (docusate sodium) and PeriColace (docusate sodium with casanthranol), as well as Squibb Mineral Oil, Glycerin Suppositories, and Cod Liver Oil. Roberts said that although it will assume the U.S. marketing for all five nonprescription products, Bristol-Myers "will continue to manufacture finished goods for Roberts for a specified period of time." The company will also receive the Canadian marketing rights for Colace and PeriColace. In addition to the nonprescription products covered in the agreement, the letter of intent also would give Roberts rights to market two prescription drugs in the U.S. and Canada -- Saluron (hydroflumethiazide) and Salutensin (hydroflumethiazide with Reserpine), which are both indicated for the treatment of hypertension. Three prescription drugs -- Florinef tablets (fludrocortisone acetate), Mucomyst inhalers and tablets (acetylcysteine), and K- Lyte effervescent tablets (potassium bicarbonate) -- will be marketed by Roberts in Canada as another part of the arrangement. Earlier in 1993, Roberts acquired Canadian marketing rights for 11 Glaxo nonprescription products. Roberts said that it markets its products in seven countries, and maintains subsidiaries in Canada and the U.K. Currently, Roberts does not manufacture any of the drugs it markets. The 25 nonprescription drugs and nine dietary supplements sold by the company include: Cheracol cough/cold-allergy/sinus medications; Pyrroxate decongestant/antihistimine/analgesic; Haltran ibuprofen menstrual pain reliever; Kasof stool softener; P-A-C aspirin; and the Sigtab line of dietary supplements. All Roberts' products are promoted ethically. Founded in 1983, the company posted sales of $ 25.4 mil. in 1992. However, 1993 sales are on pace to more than double the company's 1992 sales performance. Through six months of 1993, Roberts' revenues grew 213% to $ 37.6 mil. with sales of about $ 24 mil. OTC products contribute about 10% of sales.
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